Avis’s stocks soars after big tech partnerships.


Today, Alphabet and Avis Budget announced that they will work together on self-driving cars.

After that tie-up Avis Budget’s stacks bounced more than 14 percent.

Alphabet’s self-driving car company, Waymo, will rely on Avis to service and store its fleet of Chrysler self-driving vans, the companies said in a statement. Most of the 600 vehicles will be deployed, in part to support a pilot in Phoenix, Arizona.

Avis will provide services like secure parking, cleaning, oil changes and tire rotations at its locations as part of the agreement.

The tie-up comes as Waymo and Uber fight in court over self-driving car technology. Uber’s ride-hailing service is also a rival of Avis.

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